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Asia-Pac currencies from KRW,......>

EMERGING MARKETS
EMERGING MARKETS: Asia-Pac currencies from KRW, SGD and THB traded weaker
Wednesday, with much of the price action sticking since the original sell-off
earlier in the week. The currencies clearly remain sensitive to sentiment
swings, with the spread of Coronavirus dragging regional equities lower and, in
turn, their currencies.
- THB extended weakness after breaking above the 200-dma in USD/THB. An extra
spell of weakness followed a statement from the Tourism Authority of Thailand,
who see Chinese tourism falling by "at least 2mln" to 9mln this year. The Thai
finance ministry stated they are ready to execute measures to boost local
consumption, but the Bank of Thailand are likely relieved their currency is
pulling away from values they deem overvalued. USD/THB Bears look for a clean
break below the 200-DMA at THB30.79 and will take confidence in the RSI rising
sharply into overbought territory.
- Focus turns to the scheduled press conference from the World Health
Organisation at 1600GMT/1100ET for the latest update on actions to stem the
spread of Coronavirus.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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